The plans of most countries to issue their own cryptocurrency have been announced

According to a survey conducted by OMFIF (the Official Monetary and Financial Institutions Forum) and Ripple, most central banks plan to issue CBDCs in the next 10 years.

CBDC is a digital form of fiat currency issued by a central bank. It is fully analogous to a regular currency, serves as a legal tender, and is stored in an electronic wallet. The report by OMFIF and Ripple states that almost 70% of the surveyed central banks plan to issue CBDCs over the next decade. This emphasizes the rapid adoption and strategic importance that central banks are placing on cryptocurrencies in the global financial landscape.

However, the successful issuance of CBDCs requires the active cooperation of a range of private sector partners. The model known as the «platform approach» implies that central banks provide the basic infrastructure. Based on this, other ecosystem participants innovate to offer services to end users.

The report emphasizes the importance of such multi-sectoral cooperation and the key role that payment providers will play in the development and implementation of CBDCs. Although only 45% of central banks currently cooperate with payment service providers, more than 80% intend to do so in the near future.

It is worth noting that there are many opponents of central bank digital currencies in the United States who consider them a serious threat to the freedom of American citizens. Among them is former U.S. President Donald Trump, who is fighting hard to return to the White House. In his campaign speech, Trump called the central bank’s state-owned cryptocurrencies a threat to human freedom. «As your president, I will never allow the creation of a central bank digital currency,» the politician emphasized.